Icade : Santé acquires the real estate of the Navarre polyclinic for €35M

PRESS RELEASE

Paris, November 5, 2020

ICADE SANTÉ ACQUIRES THE REAL ESTATE OF THE NAVARRE POLYCLINIC FOR €35M

In connection with the Gaucher group selling the operation of two polyclinics (Navarre and Marzet) located in Pau to Groupe Bordeaux Nord Aquitaine (GBNA), Icade Santé acquired the real estate of the Navarre polyclinic for €35m. As a result, Icade Santé signed two new 12-year leases with GBNA. One relates to the newly acquired Navarre facility and the other to the Marzet polyclinic owned by Icade Santé since 2007.

Taken together, the Marzet and Navarre polyclinics offer local residents a comprehensive range of hospital services. Built in 2003, the Navarre polyclinic was recently renovated and expanded. It features innovative medical equipment including 20 operating suites and an outpatient unit reconfigured to improve surgical and obstetric care. The Marzet polyclinic will continue to specialise in oncology, medicine and post-acute care services.

GBNA, a major private healthcare provider in Nouvelle-Aquitaine and the leading player in the Bordeaux area, will lease both facilities for the next 12 years. Before taking over the operation of these two polyclinics in Pau, the group operated 6 facilities (Bordeaux Nord Aquitaine polyclinic, Bordeaux Rive Droite polyclinic, Bordeaux Caudéran polyclinic, Nouvelle Clinique Bel Air, Thiers eye care centre and Arcachon private hospital) and 1 nursing home.

This acquisition marks the start of a long-term partnership between Icade Santé and GBNA, a major healthcare provider. It is fully in line with the Company's growth strategy in terms of its healthcare property investments.

ABOUT ICADE

BUILDING FOR EVERY FUTURE

As an investor and a developer, Icade is an integrated real estate player that designs innovative real estate products and services adapted to new urban lifestyles and habits. By placing corporate social responsibility and innovation at the core of its strategy, Icade is closely involved with stakeholders and users in the cities-local authorities and communities, companies and employees, institutions and associations… As an office and healthcare property investor (portfolio value of €11.6bn as of 06/30/2020 on a proportionate consolidation basis) and as a property developer (2019 economic revenues of nearly €1bn), Icade has been able to reinvent the real estate business and foster the emergence of tomorrow's greener, smarter and more responsible cities. Icade is a significant player in the Greater Paris area and major French cities. Icade is listed on Euronext Paris as a French Listed Real Estate Investment Company (société d'investissement immobilier cotée, SIIC). Its leading shareholder is the Caisse des dépôts Group. The text of this press release is available on the Icade website: www.icade.fr/en/

ABOUT ICADE SANTÉ

With a portfolio worth €5.0 billion (on a full consolidation basis) as of June 30, 2020, Icade Santé is the leading healthcare property investor in France. A 58.3% owned subsidiary of the Icade Group, Icade Santé draws on its proven expertise, its long-term shareholders as well as its extensive knowledge of the real estate value chain. Since 2017, Icade Santé has pursued a strategy of diversification into the nursing home segment. The text of this press release is available on the Icade Santé website: https://icade-sante.fr/en/

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